South Korea: Shipbuilding orders are strong, but large deficit: Hyundai Heavy Industries, Daewoo Shipbuilding
Hyundai Heavy Industries
Daewoo Shipbuilding Ocean
In South Korea’s main shipbuilding business, the financial results for this term are expected to be lower than last year’s results.
Daewoo Shipbuilding & Marine is also expected to have a deficit in the 1 trillion won range.
Performance will reverse next year:
Orders for high value-added vessels continue,
It is expected that “business performance can be reversed from next year at the latest.”
Hyundai Heavy Industries Group
Korean Shipbuilding Ocean
February 7,
Last year’s sales: 15,493.4 billion won,
It announced that it recorded an operating deficit of 1.384.8 trillion won last year.
Sales were up 4% year-on-year, but they couldn’t get out of the operating loss.
Hyundai Heavy Industries: Deficit of 800.6 billion won,
Hyundai Samho Heavy Industries: Deficit of 307.2 billion won,
Hyundai Mipo Shipbuilding: 226.6 billion won deficit,
Subsidiaries all went into the red.
The situation is the same for other shipbuilding companies.
Samsung Heavy Industries has a big deficit:
Last month 27th Samsung Heavy Industries
Last year, it revealed that it recorded an operating deficit of 1.312 trillion won.
Daewoo Shipbuilding Ocean also has a large deficit:
Last year’s sales were 4,365 billion won,
The operating deficit was 1,301.1 billion won.
Cause of sluggishness:
The rise in raw material prices was a bad news.
Last year, rising prices for steel plates for ships were a drag.
Soaring price of planks for shipbuilding:
The price of planks for shipbuilding was 800,000 won per ton in the first half of last year.
In the second half of last year, it soared to the 1.1 million won level.
Backlog of orders from 3 shipbuilding companies:
The three shipbuilding companies received an order for $ 45.7 billion last year.
The target amount of $ 31.7 billion has been exceeded.
Even this year, on this day’s basis,
34 Korean shipbuilding oceans,
12 Daewoo Shipbuilding Marines,
We have secured construction contracts for a total of 46 vessels and are continuing the rush of orders.
Korean Shipbuilding Ocean:
In January alone, we received an order for 34 vessels ($ 3.7 billion) and achieved the annual target of 21%.
Samsung Heavy Industries:
To date, there is no record of orders.
Of the vessels ordered by both companies, “9 vessels are LNG carriers that are environmentally friendly and highly efficient vessels.”
One year required to improve business performance:
It takes at least one year to “because orders for LNG carriers lead to improved business performance.”
Even if we receive new orders for LNG carriers in the future,
A design period of around one year is required,
After the yard work starts, it will be reflected in the business results.
Hyundai Heavy Industries Holdings:
Hyundai Heavy Industries Holdings, a holding company of the Hyundai Heavy Industries Group.
Last year’s sales 28,158.7 billion won,
With an operating profit of 1.85.4 trillion won, it achieved the highest performance since the company was established.
Hyundai Oilbank,
Modern construction machinery,
Modern electric, etc.
“Thanks to the good performance of major subsidiaries other than shipbuilding.”
Joongang Ilbo
https://s.japanese.joins.com/JArticle/287512?sectcode=320&servcode=300
Korean shipbuilding marine, sales increase also turned into a deficit of over 130 billion yen: Economy: hankyoreh japan